NCC Fine: MTN Boss Resigns

Posted by admin | 8 years ago | 2,695 times

Following the fines imposed on MTN by the Nigerian Communications Commission, NCC, the Group Chief Executive Officer of the telecom company, Sifiso Dabengwa has resigned his position.Phuthuma Nhleko, the Non-Executive Chairman, will act as executive chairman for six months till a new successor is gotten.

In a statement, Dabengwa, said he was resigning with immediate effect following the prevailing circumstances occurring in MTN Nigeria, and for the interest of the company and its shareholders.The company has until November 16^th to pay the penalty in relation to the time of disconnection of 5.1 million subscribers and based on a charge of two hundred thousand three for each unregistered customerMTN was sanctioned by the Nigerian government for failing to disconnect 5.1 million unregistered subscribers.

Last week, the South African bourse suspended trading in the shares of telecoms firm MTN following the huge fine.MTN is Africa’s biggest phone operator, and derives its largest (a third) earnings from Nigeria.The NCC had in August directed mobile telecoms companies to deactivate all unregistered SIM cards or face severe sanctions.MTN missed the deadline to deactivate its unregistered subscribers, prompting a 200,000-naira ($1,000) fine for each unregistered SIM.

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